TRUCK DRIVERS & HELPERS LOCAL UNIO… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1957

Legal Domicile

Principal Officer

DAVID WHITE

Phone

4435733632

Tax Period

2023-01-01 to 2023-12-31

TRUCK DRIVERS & HELPERS LOCAL UNION NO 355 HEALTH & WELFARE PLAN, founded in 1957, is a mid-sized nonprofit that reported $46.8M in total revenue in fiscal year 2023. Revenue surged 50% from the prior year, signaling strong growth momentum. The organization ran a surplus of $15.8M, a strong 34% operating margin.

Mission

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH, SUPPLEMENTAL INCOME AND DEATH BENEFITS FOR UNION MEMBERS, THEIR DEPENDENTS, AND BENEFICIARIES.

Program Service Accomplishments

Program 1

Expenses: $31,021,899

THE PURPOSE OF THE PLAN IS TO PROVIDE HEALTH, SUPPLEMENTAL INCOME AND DEATH BENEFITS FOR UNION MEMBERS, THEIR DEPENDENTS, AND BENEFICIARIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $39,208,666

Investment Income $7,496,314

Other Revenue $78,400

TOTAL REVENUE $46,783,380

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $31,021,899

Other Expenses $2,314,277

TOTAL EXPENSES $31,021,899

Year-over-Year Comparison

	2023	2022	Change
Revenue	$46,783,380	$31,270,910	+0.5%
Expenses	$31,021,899	$30,047,795	+0.0%
Net Income	$15,761,481	$1,223,115	+11.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN GALLIZZO	TRUSTEE	10.00	Director	$0	$0	$0
MARK GAREY	TRUSTEE	10.00	Director	$0	$0	$0
BRIAN GRIMM	TRUSTEE	10.00	Director	$0	$0	$0
DAVID WHITE	TRUSTEE	10.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$46,783,380	$31,021,899	$113,898,015	$15,761,481
2022	$31,270,910	$30,047,795	$97,504,818	$1,223,115
2021	$43,288,618	$33,866,119	$96,845,231	$9,422,499
2020	$41,024,257	$31,987,907	$86,555,141	$9,036,350
2019	$41,185,501	$34,329,011	$77,824,051	$6,856,490
2018	$31,810,625	$31,013,443	$71,169,675	$797,182

TRUCK DRIVERS & HELPERS LOCAL UNION NO 355 HEALTH & WELFARE PLAN